Bitcoin mining difficulty rose 0.51% to an all-time-high in Monday’s biweekly adjustment, according to BTC.com, despite the price of Bitcoin falling more than 22% in the past two weeks.
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Fast facts
The difficulty of mining Bitcoin has risen more than 51% so far in 2022, while the price of Bitcoin dropped 65%.
Bitcoin mining difficulty changes roughly every two weeks, and it correlates with changes in how much computing power is used for mining bitcoin blocks to be rewarded with Bitcoins.
Bitcoin’s seven-day average hashrate was at around 256 exahashes per second on Sunday, down from a seven-day average of around 266 exahashes two weeks ago, Blockchain.com data showed.
The mining difficulty reading was at 36.95 trillion, as of block height 764,064, the data showed.
A chart from BTC.com shows the mining pool Foundry USA run by a subsidiary of venture capital company Digital Currency Group, currently provides more than 27% of the computing power for the entire Bitcoin network. About twelve months ago, Foundry USA accounted for about 11.5% of the network, ranked fifth among all the mining pools.
Bitcoin traded down 3.97% in the past 24 hours to change hands at US$16,048 at 4 p.m. in Hong Kong, according to data from CoinMarketCap.
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Source: https://finance.yahoo.com/news/bitcoin-mining-difficulty-reaches-time-092331527.html